MagicDiligence (< 20)

Magic Formula Links for 8/22/2011

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New to MagicDiligence - a daily roundup of all interesting and important news concerning current Magic Formula stocks! As typical for a Monday, several items to mention today:

Major investors in McGraw-Hill continue to press for a split-up of the business, particularly the struggling education unit and the largely unrelated media and information business. Also today, S&P head Deven Sharma has resigned... curious timing, considering the uproar over S&P's unilateral downgrade of U.S. debt earlier this month:

S&P also announced changes to their SmallCap 600 index, with Magic Formula stock GT Advanced Technologies (GTAT) being added. Being added to an index usually causes an uptick in share prices as index funds buy up the shares. Sure enough, GTAT gained over 2% after-hours, making up its losses for the day: